MAS turnaround: Radical, sweeping changes in business evolution only option - CEO

Radical and sweeping changes in business evolution are Malaysia Airlines' (MAS) only option for a turnaround and it is firmly on the management's agenda, said Group CEO Ahmad Jauhari Yahya.

He said MAS has four real and tangible world-class assets -- products, services, engineering capabilities and safety track records -- that it could unlock and unleash the full value of.

"We are actively exploring all options and are close to the point when such delivery is feasible, taking into account the diverse views of different market audiences and participants," he said at the group's annual general meeting here today.

Ahmad Jauhari said he was optimistic as the foundations for the resurgence of MAS were there.

"We are one of only seven airlines in the world to achieve Skytrax 5-star rating. We took home the coveted Asia's leading airline recognition at the World Travel Award 2013.

"Our service is truly world-class, having received over 100 awards in the last 10 years, including the World's Best Cabin Crew for eight times," he said.

Ahmad Jauhari said MAS also has one of the newest fleets in the industry and its engineering arm was used extensively by the rest of the industry.

While there were many points to consider,‎ Ahmad Jauhari said, the group could not simply go on with incremental improvement.

With so much at stake for the airline and Malaysia, this cannot be a partial exercise, he said.

"We cannot sacrifice the right outcome to a quick, short-term fix," he said. He said radical changes were already on the agenda before the tragic MH370 disappearance.

"It has now added‎ entirely unexpected dimension and accelerated the urgency for radical change," he said.